Novatel Wireless, Inc. (Novatel Wireless) is a provider of wireless solutions for the worldwide mobile communications markets. Its range of products principally includes intelligent mobile hotspots, universal serial bus (USB) modems, embedded peripheral component interconnect (PCI) and wireless personal computer (PC)-card modems, and communications and applications software. Novatel Wireless operates in two segments: mobile computing products and machine-to-machine (M2M) products and solutions. Its mobile-hotspot and modem customer base is consisted of wireless operators, including AT&T, Sprint, and Verizon Wireless; laptop PC and other original equipment manufacturers, or OEMs, including Dell and Hewlett-Packard; as well as distributors and various companies in other vertical markets. The Company's M2M customer base is consisted of transportation companies, industrial companies, manufacturers of medical devices and geographical-location devices and providers of security systems.